In a normal year, the month with the lowest number of closings in our market is January. The month with the highest number of closings is June. July is typically the month with the second highest number of closings. You might think third place belongs to August, but believe it or not third place typically goes to May.
This means buyer activity (viewing homes on the internet, touring homes and writing offers) is lowest in November and December, and highest in April and May. Right now buyer activity is on the upswing, and within the next few weeks buyer traffic will become very brisk. We are already very busy with buyers right now.
Many sellers choose to wait until April or May to list their home. The problem with this approach is these sellers are missing out on all of the buyers that are coming out of the woodwork in February and March.
Another problem with this approach is the risk of over-pricing when the market is at its peak. Many sellers choose to test the market by pricing their home on the high side, at a price that is above what the market will bear. They wait for a month or two of data and feedback before they decide to adjust their price. Then, when they make their adjustment, buyer activity has already started to decrease. If your goal is to receive a high market price for your home, you should avoid this scenario. Instead you should price your home for the market when the market is at its very peak.
Some sellers choose an April or May listing period because they want plenty of green in their exterior photos. Remember, you can always update your exterior photos with newer ones as the season starts to change. Your Realtor will do this for you.
So, now is a great time to prepare your home for sale, with a goal of getting your home on the market by early February. This will ensure your home is exposed to the many new buyers that are entering the market while the market is on the upswing.
For more on the home selling process,Â youÂ can view my real estate team's comprehensive selling plan online at www.HowWeHelpYouSell.com.
Looking forward to working with you in 2012,
Shawn Kriewaldt, Broker Associate, Keller Williams Realty and www.DaneCountyMarket.com